Some GM salaried workers are being let go as the company continues to use a new evaluation program that weeds out poor performers.
Jack Cooper Transport Co. LLC is planning to lay off 89 employees and permanently close its plant in Wayne after losing a contract from longtime customer Ford Motor Co. The Kansas City-based car hauler, which operates across from Ford’s Michigan Assembly Plant, said the cuts will start Feb. 2, according to a WARN notice sent to the state.
General Motors (NYSE: GM) turned in a strong 2024 on the back of rising sales. In fact, Detroit's largest automaker consistently topped Wall Street estimates and raised guidance while crosstown rival Ford Motor Company grappled with higher warranty costs.
President Trump has slashed a slew of EV-related policies, which could affect many states that have received billions of dollars in investment for electrification, notably Michigan.
A revitalized riverfront in the RenCen’s footprint will also benefit tourism. Even with the beautiful Riverwalk and Milliken State Park, the riverfront and the Detroit River remain underutilized as natural resources, trip generators, and as commercial and recreational districts. Done right, this will be a beautiful new community asset.
Representatives for the automaker and Dan Gilbert's real estate firm shared details of their latest plan to get some state funding assistance.
On one of the world’s biggest stages Sunday, the Rolex 24 Hours of Daytona sportscar race, Detroit dominated.
The current wave of projects is diverse and includes medical and higher education expansions as well as residential, hospitality and office space.
The future that Bedrock and GM envisions for the iconic Renaissance Center also includes a park modeled off of Chicago's Millennium Park and the removal of the "Berlin Wall-like" structure that cuts off downtown from the riverwalk.
The first of the two side-by-side buildings is now expected to welcome its first office and retail tenants this summer.
Analysts expect the Detroit, Michigan-based company to report quarterly earnings at $1.8 per share, up from $1.24 per share in the year-ago period. General Motors projects quarterly revenue of $43.28 billion, compared to $42.98 billion a year earlier, according to data from Benzinga Pro.
Wall Street expects the Detroit automaker earned $1.82 per share on $44.6 billion in revenue. In the third quarter, GM earned $3 billion in profit as its revenue soared 10% to $48.8 billion. GM shares jumped 10% on that report, to more than $53 each.